TWO-YEAR CHANGE IN CONTROL AGREEMENT

     This Change in Control  Agreement (the "Agreement") is made effective as of
the 4th day of January,  2010 (the "Effective Date"), by and between East Boston
Savings Bank (the "Bank"),  a bank organized under the laws of the  Commonwealth
of  Massachusetts  with its headquarters  located in East Boston,  Massachusetts
(the "Bank") and Mark Abbate ("Executive").


                                   WITNESSETH

     WHEREAS,  the Bank wishes to provide for the  employment by the Bank of the
Executive as of the Effective  Date, and the Executive  wishes to serve the Bank
as of the  Effective  Date,  on the  terms  and  conditions  set  forth  in this
Agreement; and

     WHEREAS,  in order to induce the  Executive to accept  employment  with the
Bank,  the parties  desire to specify the severance  benefits which shall be due
the  Executive  by the Bank in the event  that his  employment  with the Bank is
terminated under specified circumstances.

     NOW THEREFORE,  in consideration of the mutual agreements herein contained,
and upon the other terms and conditions hereinafter provided, the parties hereby
agree as follows:

1. TERM OF AGREEMENT

     (a) The term of this Agreement shall be (i) the initial term, consisting of
the period commencing on the Effective Date and ending on the second anniversary
date of the Effective Date, plus (ii) any and all extensions of the initial term
made pursuant to this Section 1.

     (b) The term of this  Agreement  shall be extended  for one day each day so
that a constant  twenty-four  (24)  calendar  month term shall remain in effect,
until such time as the board of directors of the Bank (the "Board") or Executive
elects not to extend the term of the Agreement by giving  written  notice to the
other party in accordance  with the terms of this  Agreement,  in which case the
term of this Agreement shall be fixed and shall end on the second anniversary of
the date of such written notice.

2. DEFINITIONS

     (a)  "Change  in  Control"  shall  mean a change in  control of the Bank or
Company as defined in Section  409A of the  Internal  Revenue  Code of 1986,  as
amended (the "Code"), and the regulations promulgated thereunder,  including the
following:

          (1)  Change in  ownership:  A change in  ownership  of the Bank or the
          Company  occurs  on the  date  any one  person  or  group  of  persons
          accumulates  ownership of more than 50% of the total fair market value
          or total voting power of the Bank or the Company; or
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          (2) Change in effective  control: A change in effective control occurs
          when  either (i) any one  person or more than one  person  acting as a
          group acquires within a twelve (12)-month period ownership of stock of
          the Bank or Company  possessing  35% or more of the total voting power
          of the Bank or Company;  or (ii) a majority of the Bank's or Company's
          Board of Directors is replaced during any 12-month period by Directors
          whose appointment or election is not endorsed in advance by a majority
          of the Bank's or Company's Board of Directors (as applicable), or

          (3) Change in ownership of a substantial  portion of assets:  A change
          in the ownership of a  substantial  portion of the Bank's or Company's
          assets  occurs if, in a twelve  (12)-month  period,  any one person or
          more than one person acting as a group  acquires  assets from the Bank
          or  Company  having  a total  gross  fair  market  value  equal  to or
          exceeding  40% of the total gross fair  market  value of the Bank's or
          Company's  entire  assets   immediately   before  the  acquisition  or
          acquisitions.  For this  purpose,  "gross fair market value" means the
          value of the Bank's or  Company's  assets,  or the value of the assets
          being  disposed  of,  determined  without  regard  to any  liabilities
          associated with the assets.

          (4) Notwithstanding  anything in this Agreement to the contrary, in no
          event  shall  a  reorganization   of  Meridian   Financial   Services,
          Incorporated,   the  Bank  or  Company  solely  within  its  corporate
          structure  constitute  a "Change  in  Control"  for  purposes  of this
          Agreement.

     (b) "Good  Reason" shall mean a  termination  by the Executive  following a
Change in Control based on the following:

          (1) a material  diminution in the Executive's base  compensation as in
          effect  immediately  prior to the date of the  Change in Control or as
          the same may be increased from time to time thereafter, (2) a material
          diminution in the Executive's authority, duties or responsibilities as
          in  effect  immediately  prior  to the  Change  in  Control,  or (3) a
          material  diminution in the authority,  duties or  responsibilities of
          the officer (as in effect  immediately prior to the date of the Change
          in Control) to whom the Executive is required to report,

          (2) any material breach of this Agreement by the Bank, or

          (3) an involuntary relocation of the Bank's offices in which Executive
          is principally employed by more than 10 miles;

          provided,  however,  that prior to any  termination  of employment for
          Good Reason,  the Executive  must first provide  written notice to the
          Bank  (or  its  successor)  within  sixty  (60)  days  of the  initial
          existence  of  the   condition,   describing  the  existence  of  such
          condition,  and the Bank shall thereafter have the right to remedy the
          condition  within  thirty (30) days of the date the Bank  received the

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<PAGE>


          written notice from the Executive.  If the Bank remedies the condition
          within such thirty (30) day cure period,  then no Good Reason shall be
          deemed to exist with respect to such  condition.  If the Bank does not
          remedy the condition within such thirty (30) day cure period, then the
          Executive may deliver a Notice of  Termination  for Good Reason at any
          time within  sixty (60) days  following  the  expiration  of such cure
          period.

     (c) Termination for Cause shall mean:

          (1) the  commission  by, or  indictment  of,  Executive for any felony
          involving moral turpitude, deceit, dishonesty, or fraud;

          (2) a  material  act or acts of  dishonesty  in  connection  with  the
          performance  of  Executive's  duties,  including  without  limitation,
          material misappropriation of funds or property;

          (3) an act or acts of gross misconduct by Executive; or

          (4) continued, willful, and deliberate non-performance by Executive of
          duties  (other  than by reason of  illness  or  disability)  which has
          continued for more than thirty (30) days  following  written notice of
          non-performance from the Board.

     A determination of whether  Executive's  employment shall be terminated for
Cause shall be made at a meeting of the Board called and held for such  purpose,
at which the Board  makes a finding  that in good faith  opinion of the Board an
event set forth in  clauses  (1),  (2),  (3),  or (4)  above  has  occurred  and
specifying the particulars thereof in detail.

     (d)  For  purposes  of  this  Agreement,  any  termination  of  Executive's
employment  shall be  construed  to  require  a  "Separation  from  Service"  in
accordance  with Code Section 409A and the regulations  promulgated  thereunder,
such that the Bank and Executive  reasonably  anticipate  that the level of bona
fide services  Executive  would perform after  termination  of employment  would
permanently  decrease to a level that is less than 20% of the  average  level of
bona  fide  services  performed  (whether  as  an  employee  or  an  independent
contractor) over the immediately preceding thirty-six (36)-month period.

3. BENEFITS UPON TERMINATION

     (a)  If  the  Executive's  employment  by  the  Bank  shall  be  terminated
subsequent  to a Change in Control and during the term of this  Agreement by (i)
the Bank for other than Cause,  or (ii) the Executive for Good Reason,  then the
Bank shall:


          (1) pay Executive,  or in the event of Executive's  subsequent  death,
          Executive's  beneficiary or beneficiaries or estate, as applicable,  a
          cash severance amount equal to:

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<PAGE>

               (i) two (2) times the Executive's base salary in effect as of the
          Date of Termination,

               (ii) the highest level of cash incentive  compensation  earned by
          the  Executive  from the Bank in any one of the three  calendar  years
          immediately preceding the year in which the termination occurs, and

               (iii)  payable by lump sum within ten (10)  business  days of the
          Date of Termination.

          (2) cause to be  continued  non-taxable  medical  and dental  coverage
          substantially  identical  to the coverage  maintained  by the Bank for
          Executive  prior  to  Executive's  termination,   with  the  Executive
          responsible for his share of employee  premiums,  for twenty-four (24)
          months.

     (b) In no event  shall the  payments  or benefits to be made or provided to
Executive  under  Section 3 hereof (the  "Termination  Benefits")  constitute an
"excess  parachute  payment"  under  Section  280G of the Code or any  successor
thereto,  and in order to avoid  such a  result,  Termination  Benefits  will be
reduced,  if  necessary,  to an amount the value of which is one dollar  ($1.00)
less than an  amount  equal to three (3) times  Executive's  "base  amount,"  as
determined in accordance  with Section 280G of the Code. The reduction  required
among the  Termination  Benefits  provided by this Section 3 shall be applied to
the cash severance benefits otherwise payable under Section 3(a) hereof.

4. NOTICE OF TERMINATION

     Any purported termination by the Bank or by Executive in connection with or
following a Change in Control shall be  communicated by Notice of Termination to
the  other  party  hereto.  For  purposes  of  this  Agreement,   a  "Notice  of
Termination"  shall  mean a written  notice  which  shall  indicate  the Date of
Termination  and,  in the  event  of  termination  by  Executive,  the  specific
termination  provision  in this  Agreement  relied  upon and  shall set forth in
reasonable  detail  the facts and  circumstances  claimed to provide a basis for
termination of Executive's employment under the provision so indicated. "Date of
Termination" shall mean the date specified in the Notice of Termination  (which,
in the case of a termination for Cause,  shall be immediate).  In no event shall
the Date of  Termination  exceed  thirty  (30) days from the date the  Notice of
Termination is given.

5. SOURCE OF PAYMENTS

     All  payments  provided in this  Agreement  shall be timely paid in cash or
check from the general funds of the Bank.

6. REQUIRED REGULATORY PROVISIONS


     Notwithstanding  anything herein contained to the contrary, any payments to
Executive by the Bank,  whether  pursuant to this  Agreement or  otherwise,  are
subject to and  conditioned  upon their  compliance  with  Section  18(k) of the
Federal Deposit  Insurance Act, 12 U.S.C.  Section 1828(k),  and the regulations
promulgated thereunder in 12 C.F.R. Part 359.

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<PAGE>

7. NO ATTACHMENT

     Except  as  required  by law,  no  right to  receive  payments  under  this
Agreement  shall be  subject to  anticipation,  commutation,  alienation,  sale,
assignment,  encumbrance,  charge,  pledge, or  hypothecation,  or to execution,
attachment,  levy, or similar process or assignment by operation of law, and any
attempt,  voluntary  or  involuntary,  to effect any such action  shall be null,
void, and of no effect.

8. ENTIRE AGREEMENT; MODIFICATION AND WAIVER

     (a) This Agreement  contains the entire  understanding  between the parties
hereto and supersedes any prior agreement between the Bank and Executive, except
that this  Agreement  shall not  affect or  operate  to reduce  any  benefit  or
compensation inuring to Executive of a kind elsewhere provided.  No provision of
this  Agreement  shall be  interpreted  to mean that  Executive  is  subject  to
receiving fewer benefits than those  available to him without  reference to this
Agreement.

     (b) This  Agreement may not be modified or amended  except by an instrument
in writing signed by the parties hereto.

     (c) No term or  condition  of this  Agreement  shall be deemed to have been
waived, nor shall there be any estoppel against the enforcement of any provision
of this Agreement,  except by written  instrument of the party charged with such
waiver or estoppel.  No such written waiver shall be deemed a continuing  waiver
unless specifically  stated therein,  and each such waiver shall operate only as
to the specific  term or condition  waived and shall not  constitute a waiver of
such  term  or  condition  for  the  future  or as to any act  other  than  that
specifically waived.

9. SEVERABILITY

     If, for any reason,  any  provision of this  Agreement,  or any part of any
provision, is held invalid, such invalidity shall not affect any other provision
of this  Agreement or any part of such  provision not held so invalid,  and each
such other  provision and part thereof shall to the full extent  consistent with
law continue in full force and effect.

10. HEADINGS FOR REFERENCE ONLY

     The headings of sections  and  paragraphs  herein are  included  solely for
convenience of reference and shall not control the meaning or  interpretation of
any of the provisions of this Agreement.

11. GOVERNING LAW

     This  Agreement  shall  be  governed  by the  laws of the  Commonwealth  of
Massachusetts but only to the extent not superseded by federal law.

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<PAGE>

12. ARBITRATION

     Any  dispute  or  controversy  arising  under or in  connection  with  this
Agreement shall be settled exclusively by binding arbitration, as an alternative
to civil  litigation  and  without  any trial by jury to  resolve  such  claims,
conducted by a single arbitrator, mutually acceptable to the Bank and Executive,
sitting in a location  selected by the Bank within  twenty-five  (25) miles from
the main  office  of the Bank,  in  accordance  with the  rules of the  American
Arbitration  Association's  National  Rules  for the  Resolution  of  Employment
Disputes then in effect.  Judgment may be entered on the  arbitrator's  award in
any court having jurisdiction.

13. PAYMENT OF LEGAL FEES

     To the extent that such payment(s) may be made without  triggering  penalty
under Code Section 409A, all reasonable legal fees paid or incurred by Executive
pursuant to any dispute or question of interpretation relating to this Agreement
shall  be  paid  or  reimbursed  by the  Bank,  provided  that  the  dispute  or
interpretation  has been resolved in Executive's  favor, and such  reimbursement
shall occur no later than sixty (60) days after the end of the year in which the
dispute is settled or resolved in Executive's favor.

14. OBLIGATIONS OF BANK

     The termination of Executive's employment, other than following a Change in
Control, shall not result in any obligation of the Bank under this Agreement.

15. SUCCESSORS AND ASSIGNS

     The Bank  shall  require  any  successor  or  assignee,  whether  direct or
indirect,  by  purchase,   merger,   consolidation  or  otherwise,   to  all  or
substantially   all  the  business  or  assets  of  the  Bank,   expressly   and
unconditionally to assume and agree to perform the Bank's obligations under this
Agreement,  in the same  manner  and to the same  extent  that the Bank would be
required to perform if no such succession or assignment had taken place.

                            [Signature Page Follows]


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<PAGE>



                                   SIGNATURES

     IN WITNESS  WHEREOF,  the Bank has caused this  Agreement to be executed by
its duly authorized officer, and Executive has signed this Agreement,  as of the
Effective Date.

                                               EAST BOSTON SAVINGS BANK



                                           By: /s/ Richard J. Gavegnano
                                               -------------------------------
                                               Richard J. Gavegnano



                                               EXECUTIVE



                                           By: /s/ Mark Abbate
                                               -------------------------------
                                               Mark Abbate


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